Hastings to close Canyon location

Published 10:45 am, Friday, October 4, 2013

Hastings Entertainment will soon close its Canyon store, located at 205 N. 23rd St., with the last day of business set as Nov. 2.

The store posted signs Tuesday announcing the closing and a going out of business sale.

While things seemed to be business as usual Monday evening, customers Tuesday morning found a different site.

Nearly all merchandise in the store was discounted from 10-50 percent off, with signs declaring “everything must go.”

Yellow “caution” tape crisscrossed racks of videos with signs stating that the store would be making no more rentals.

The company announced the closing in a news release after the signs were posted at the Canyon store.

Hastings Chief Financial Officer Dan Crow did not return calls for comment made several times throughout the week.

The announcement brought comments of surprise and disappointment on Facebook.

People commented that friends who worked at the store were given the option to transfer to an Amarillo location or find other jobs.

The Canyon location employs about 35 full and part-time associates.

Six Hastings stores were closed by the Amarillo-based retailer in the first half of its current fiscal year.

The company reported a net loss of $6.2 million in this year’s first half, which ended July 31. Fighting against fading profits due to digital technology and mail and vending delivery, Hastings has been remaking its stores into a lifestyle format designed to prominently feature products beyond the chain’s traditional books, music and video.

The building that houses the Canyon Hastings was listed for sale with FIMC Commercial Realty during the summer. The owner of the building Hastings leases at 5512 Gem Lake Road in Amarillo also listed that property for sale.

The listing for the Canyon property stated, “Hastings will entertain a buyout of their lease as they will not renew at this location.” The retailer’s lease was to end in late 2018, the listing said.

While no one would officially state what business would next occupy that property, Facebook chatter indicated a rental store of some kind would be on its way.

Area employees of Aaron’s Rent-A-Center confirmed that the company was planning to open a Canyon store in the location that Hastings occupies.